Gold exploded out of its 13-year cup and handle pattern through $2100/oz, and soon after, Silver broke out of a three to four-year range past $26/oz.As the economy slows toward recession, it eliminates recent cost pressures for miners.
The index has 28 companies, a median market capitalization of $200 Million, and an average market capitalization of $350 Million. The beautiful thing is that gold stocks are trending bullish and building momentum, yet everyone still hates them.As one can imagine, very few of the responses were favorable to the miners.
Gold looks to continue to trend higher to its cup and handle measured upside target of $3000/oz. Meanwhile, miners and juniors are in a prime position to leverage this move.
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